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§ 1604. Requirements for carrying on banking business

Oklahoma Statutes AnnotatedTitle 6. Banks and Trust Companies

Oklahoma Statutes Annotated
Title 6. Banks and Trust Companies (Refs & Annos)
Chapter 1A. International Banking Corporations
6 Okl.St.Ann. § 1604
§ 1604. Requirements for carrying on banking business
Currentness
Requirements for carrying on banking business.
A. No international banking corporation may transact a banking business, or maintain in this state any office for carrying on such business, or any part thereof, unless such corporation has:
1. Been authorized by its charter to carry on such business and has complied with the laws of the country under which it is chartered;
2. Furnished to the Board such proof as to the nature and character of its business and as to its financial condition as the Board may require;
3. Filed with the Board a certified copy of that information required to be supplied to the Secretary of State by those provisions of the Oklahoma General Corporation Act1 which are applicable to foreign corporations;
4. Paid to the Board a nonrefundable application fee in an amount set by the Board; and
5. Received a license duly issued to it by the Commissioner.
B. The Commissioner may not issue a license to an international banking corporation unless:
1. It is chartered in a jurisdiction in which any bank having its principal place of business in this state may establish similar facilities or exercise similar powers; or
2. Under the Federal International Banking Act of 1978,2 the Comptroller of the Currency of the United States could issue a license to the corporation to operate a federal agency without considering whether the international banking corporation is chartered in a jurisdiction in which any bank having its principal place of business in this state may establish similar facilities or exercise similar powers.

Credits

Laws 1992, c. 295, § 14, eff. July 1, 1992.

Footnotes

1
Title 18, § 1001 et seq.
2
12 U.S.C.A. § 3101 et seq.
6 Okl. St. Ann. § 1604, OK ST T. 6 § 1604
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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